Alert:
- All the banks stopped offering the 3rd Party ASBA IPO application from 1st May 2022. From now onwards, the PAN number of the primary account holder in the Bank Account and Demat Account should be the same for valid IPO applications.
- HDFC Net Banking allows Minor, HUF, and Company accounts to apply for IPO shares online.
- For other banks who doesn't offer onine IPO applications to Minor, HUF, and Company accounts, you have to submit the Paper IPO Application forms to the bank branch.
- The UPI limit for IPO applciation increased to Rs 5L per transaction.
Yes, IPO application with a third party bank account is allowed when using ASBA. But only a few banks including SBI offer the 3rd Party IPO Application.
Note: Private bank's like ICICI, HDFC, etc do not offer this facility.
The BSE circular on 3rd Party IPO Application
- Open BSE Notice No: 20190619-23
- Download 'Annexure I.pdf' at the bottom.
- Check the line:
'Note: Trading Members with 3-In-1 account facility will have the option to provide the bank details up to five banks'
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